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Prior to the 2012 London Olympics, Ryan Lochte was already doing well with product endorsements. With deals including Speedo, Mutual of Omaha, Gillette, Gatorade, Proctor and Gamble, Ralph Lauren, Nissan, and AT&T, Fortune Magazine estimated that his endorsement earnings were roughly $2.3 million this past year.

But after beating Michael Phelps handily on Saturday night in London for his first Gold Medal of these Olympics in the 400 IM, and presuming we observe similar performances for Mr. Lochte during these Games, the young man from Florida is about to write his financial ticket for many years to come...if he's smart.

It is still early on in these Games. But if Mr. Lochte adds another 1-2 Gold Medals to his trophy case by the end of this Olympiad, then it is very possible that his endorsement earnings could approach and perhaps eclipse what Mr. Phelps earned.

Why? Because compared to Phelps, Lochte seems (1) a bit more fresh upon the public's conscience (he's actually older than Phelps and won Gold in Beijing, but was somewhat submerged underwater by Phelps's accomplishments), (2) less guarded, more presentable and well-spoken, and (3) more outwardly personable and less diva-ish.

So what should Ryan Lochte's game plan be going forward from this night on:

Step 1...Resist the urge to party with Hope Solo to celebrate your 400 IM victory and reserve your strength for the other races. Partying with Hope equals weak legs...and as a swimmer, you can't have weak legs.

Step 2...Swim his guts out in his remanding events during this Olympic fortnight.

Step 3...Let the fish-n-chips and money fall where they may while being strategic and opportunistic in finding symbiotic product endorsement relationships that further proliferate his brand.

Step 4...And then go find Hope Solo.

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Dr. Patrick Rishe is the Director of Sportsimpacts and Associate Professor of Economics at Webster University.